Markets end with gains; PSU banks surge

Subscribe to GoodReturns
For Quick Alerts
Subscribe Now  
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts
    Markets end with gains; PSU banks surge
    Markets ended the day higher as buying interest in banks, realty and high beta metal names saw indices surging higher.

    The S&P CNX Nifty ended the day with gains of 32.80 points, while the Sensex rallied 111.25 points. Among the stocks that gained in trade today were IDFC, Sun Pharma, Tata Motors, ONGC and Maruti Suzuki.

    Metals and Realty saw strong buying interest as investors moved away from defensives and into high beta names. Metal stocks that rallied in trade today were Jindal Steel, Sesa Goa, Tata Steel and Hindalco.

    Automobile stocks too rallied on hopes that the RBI would start cutting interest rates leading to a spurt in demand. Auto stocks that gained in trade today included Bajaj Auto, Tata Motors and HeroMotorCorp.

    Among the losers in trade today were HDFC, L&T, Cairn India, Axis Bank, ITC and ICICI Bank. From the non index stocks Kingfisher Airlines fell as the company still awaits a decision by Etihad on a stake buyout.

    Software stocks too saw buying interest with TCS, Wipro and Infosys amongst the gainers. In fact, TCS gained after Morgan Stanley upgraded the stock to overweight.

    Banking stocks gained as the Lok Sabha cleared the Banking Laws Ammendment Bill paving the way for reforms in the banking sector. PSU bank stocks including Allahabad Bank, Andhra Bank, IDBI Bank, IOB, Punjab National Bank, Syndicate Bank and State Bank of India all rallied.

    Meanwhile, markets in Europe were trading marginally higher, while most of Asia led by the Japanese Nikkei ended the day with gains.

    GoodReturns.in

    Read more about: sensex nifty
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'
    India's LARGEST EVER political poll. Have you participated yet?

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more